Bank of Italy, debt rises in February and revenues fall

In February, general government debt increased by 21.6 billion compared with the previous month, reaching 2,772.0 billion. The increase is due to borrowing requirements (12.9 billion) and to the increase in Treasury liquidity (8.6 billion, to 43.3); the overall effect of spreads and premiums on issue and redemption, the revaluation of inflation-indexed securities and the change in exchange rates (€0.1 billion) also contributed. Thus the statistical publication “Public finance: requirement and debt” of the Bank of Italy. The Bank of Italy publication discloses the data for February 2023 relating to the debt and borrowing requirements of the public administrations and the tax revenue recorded in the state budget. With reference to the breakdown by sub-sectors – reads the note from the Bank of Italy – the debt of central government increased by 21.6 billion, while that of local government and that of social security institutions remained virtually unchanged. In the same month, revenues accounted for in the state budget amounted to 34.9 billion, a decrease of 3.0 percent (1.1 billion) compared to the same month of 2022. In the first two months of the year, tax revenues amounted to 79 1 billion, up 4.5 percent (3.4 billion) over the same period last year. Thus the statistical publication “Public finance: requirement and debt” of the Bank of Italy.